IBM's Earnings Target Doesn't Compute

By

Dan Gallagher

May 14, 2014 3:36 p.m. ET

For IBM, talk isn't exactly cheap.

That much was clear in the reaction to Big Blue's analyst meeting on Wednesday, at which it maintained its target of delivering $20 in operating earnings per share in 2015. Despite that promise, shares of International Business Machines slipped, adding to a steady decline since the company reported disappointing first-quarter results last month.